Corbion up after Q1 core profit beat, outlook confirmation

Corbion NV

26/04/2024 08:34

** Shares in Corbion  CORB.AS  are up 5% after the Dutch
biochemicals group confirmed its FY24 outlook on the back of its
Q1 results
    ** KBC Securities says the Q1 core adj. EBITDA came slightly
better than expected at +0.7% organically vs -2% expected
    ** "Although the recent track record has been more volatile
than expected, the strategic choices made recently (sticking to
PLA, a disciplined investment approach on ao Algae, a much
increased FCF focus) make sense in our opinion" - KBC
    ** Up to the previous session's close, shares were down
3.9%​ YTD


 (Reporting by Marianna Ciabach-Malinowska)
 ((Marianna.ciabach@tr.com))